The market is playing games
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Last updated: Tuesday, April 5, 2016
Volatility is picking up. The US non-manufacturing ISM numbers beat the expectations this afternoon so the US Dollar bulls got excited and sent EUR/USD tumbling. But the bulls held the line at resistance around 1.1330s. Now the price is back up near 1.14. Meanwhile, USD/JPY has broken 1.10 but only for a few minutes because the price jumped back up to 1.1150. Looks like someone is hunting weak stops.
The resistance at 1.1330s held for the second time.
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ABOUT THE AUTHOR
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
